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Al-Fayed continues to finance Fulham

last updated Wednesday 16th March 2011, 9:43 AM

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Fulham's losses for the last financial year have gone up by £10 million after it was announced the west London club lost £16.9m last year.

Despite reaching the Europa League final last season the club's losses have been published by Companies House, with the expense of hosting extra games and player-trading costs being the chief reasons for the increase in losses.

Boosted by their European run, the club's sales increased to a record £77.1m in the year to June 30, a climb of 15 per cent. The Europa League run itself contributed £12.5m.

The London team beat clubs including Juventus, Hamburg and defending champion Shakhtar Donetsk before losing to Atletico Madrid in its first European final. Egyptian businessman Al- Fayed sold London department store Harrods to the Qatar royal family for 1.5 billion pounds last year.

Despite the losses announced Fulham's owner, Mohamed Al-Fayed, has insisted that he remains committed to the club in the long term.

Al-Fayed said in a statement accompanying the accounts: "As is evident, I remain committed to making investment funds available to achieve our goals both on and off the pitch.

"The continued success of Fulham and its eventual financial self-sustainability is my priority."

Al-Fayed, 78, has been in charge of Fulham since 1997, taking it from the third tier to the Premier League within four years and his club have now been in the Premier League for 10 consecutive seasons. He has already loaned more than £160m to the club in an unsecured, interest-free basis.

The accounts also suggested that Al-Fayed had provided "written indications" of continued funding for the team. He's already loaned more than 160 million pounds to the team on an unsecured, interest-free basis, and is one of several Premier League club owners who support clubs with their own funds.


Following the release of Fulham Football Club Leisure Limited accounts for year ending June 2010, the Club is delighted to be able to confirm the following highlights for the year:

2010 boasted a record income for the Club of £77.1m, up 21 % from 2009, making it 30th highest in European football as per the recently published Deloitte report.

Operating Profit (before player trading*) was £6.4m driven by our UEFA Europa League and FA Cup campaigns.

Our staff costs increased from £46.2m to £49.3m (6.7%), partly as a result of bonuses paid for successful performances in both the FA Cup and the Europa League. When reflected as a proportion of turnover our staff costs dropped from 69% to 64%.

In his summary the Chairman, Mohamed Al Fayed, stated he was very pleased with the performance of the business and again expressed the importance of the long term goal of self-sustainability, whilst committing to the continued growth and development of the Club both on and off the pitch.

*player trading in 2010 relates primarily to the write down of player valuations in the Club's accounts.

Source Mark Fordham at Goal
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